Wall Street brokerages expect Cypress Semiconductor Co. (NASDAQ:CY) to announce earnings of $0.24 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Cypress Semiconductor’s earnings. Cypress Semiconductor reported earnings per share of $0.27 during the same quarter last year, which would suggest a negative year-over-year growth rate of 11.1%. The business is scheduled to issue its next earnings report on Thursday, April 25th.
On average, analysts expect that Cypress Semiconductor will report full year earnings of $1.09 per share for the current year, with EPS estimates ranging from $1.05 to $1.13. For the next year, analysts anticipate that the company will report earnings of $1.22 per share, with EPS estimates ranging from $1.17 to $1.38. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Cypress Semiconductor.
Cypress Semiconductor (NASDAQ:CY) last announced its quarterly earnings data on Thursday, January 31st. The semiconductor company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. Cypress Semiconductor had a net margin of 14.28% and a return on equity of 22.01%. The company had revenue of $604.47 million during the quarter, compared to analyst estimates of $598.72 million.
Several equities research analysts have recently commented on the stock. Barclays reduced their price target on shares of Cypress Semiconductor from $18.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, October 23rd. BidaskClub upgraded shares of Cypress Semiconductor from a “hold” rating to a “buy” rating in a report on Saturday. SunTrust Banks reduced their price target on shares of Cypress Semiconductor to $13.50 and set a “hold” rating for the company in a report on Friday, October 26th. Cowen reduced their price target on shares of Cypress Semiconductor from $21.00 to $18.00 and set an “outperform” rating for the company in a report on Tuesday, October 23rd. Finally, Piper Jaffray Companies set a $15.00 price target on shares of Cypress Semiconductor and gave the company a “buy” rating in a report on Friday, October 26th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. Cypress Semiconductor presently has an average rating of “Hold” and an average price target of $17.45.
CY traded down $0.08 on Friday, reaching $14.82. 4,167,640 shares of the company traded hands, compared to its average volume of 4,921,598. Cypress Semiconductor has a one year low of $11.75 and a one year high of $18.87. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.73 and a beta of 1.85. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.30 and a quick ratio of 0.89.
In other Cypress Semiconductor news, CEO Hassane El-Khoury sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $13.88, for a total transaction of $694,000.00. Following the sale, the chief executive officer now owns 321,539 shares of the company’s stock, valued at approximately $4,462,961.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Sudhir Gopalswamy sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $14.00, for a total transaction of $42,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,898 shares of company stock worth $968,272. Insiders own 0.43% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. ETRADE Capital Management LLC grew its position in Cypress Semiconductor by 4.1% during the 4th quarter. ETRADE Capital Management LLC now owns 44,999 shares of the semiconductor company’s stock worth $572,000 after purchasing an additional 1,778 shares during the last quarter. Hodges Capital Management Inc. boosted its holdings in shares of Cypress Semiconductor by 2,925.9% in the 4th quarter. Hodges Capital Management Inc. now owns 953,150 shares of the semiconductor company’s stock valued at $12,124,000 after acquiring an additional 921,650 shares during the last quarter. Trillium Asset Management LLC boosted its holdings in shares of Cypress Semiconductor by 34.9% in the 4th quarter. Trillium Asset Management LLC now owns 184,005 shares of the semiconductor company’s stock valued at $2,341,000 after acquiring an additional 47,565 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Cypress Semiconductor by 7.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,982 shares of the semiconductor company’s stock valued at $203,000 after acquiring an additional 1,135 shares during the last quarter. Finally, Keeley Teton Advisors LLC boosted its holdings in shares of Cypress Semiconductor by 13.6% in the 4th quarter. Keeley Teton Advisors LLC now owns 328,167 shares of the semiconductor company’s stock valued at $4,174,000 after acquiring an additional 39,195 shares during the last quarter. 83.36% of the stock is currently owned by institutional investors.
Cypress Semiconductor Company Profile
Cypress Semiconductor Corporation designs, develops, manufactures, markets, and sells embedded system solutions worldwide. It operates in two segments, Microcontroller and Connectivity Division, and Memory Products Division. The Microcontroller and Connectivity Division provides microcontroller (MCU), analog, and wireless and wired connectivity solutions, including Traveo automotive MCUs; programmable system-on-chip and general-purpose MCUs; ARM Cortex-M4, -M3, and -M0+ MCUs; R4 CPUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, Bluetooth low energy, and ZigBee solutions; WICED development platform; and USB controllers comprising solutions for the USB-C and USB power delivery standards, as well as wireless Internet of things connectivity solutions.
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